Coburn: Control Government Spending or Face 'Apocalyptic Pain' Much much much too late and it will get worse! It was too late in 2007 when Greenspan's gift to Bush first started rearing it's ugly head. The collapse of the middle and lower classes along with the need was no coincidence nor was the timing setting it up to come to fruition on Obama's watch! There is apocalyptic pain coming and way you look at it so I pose a question I asked before.
What happens to the world if and when the U S files for Bankruptcy?
America's Impending Master Class Dictatorship Frightening but you can not deny this reality! We are in serious trouble and as I have pointed out for years it was done on purpose and right under our unsuspecting noses! Our real debt including Debt and unfunded liabilities is $120 trillion! Wrap your mind around that!
Those who have followed me over the years know I have often talked about the lie we are living today! I just Googled an example!
Think about it! What is the world without America? What would happen to the entire world if we were to file for Bankruptcy? China for one would be in anarchy and go under as the country she is today and wants to be tomorrow. I find this all very disturbing because it is laid on Obama's shoulders and being credited with this mess. Unfunded liabilities, ballooning deficit, ballooning debt, it is all Chinese to most of us. One thing I do know is President Clinton ran a surplus inherited by G W Bush. He was even looking at retiring the Debt. Bush changed all that forever!
Bush Cheney Greenspan Rove Gonzales, all the enablers, do not get enough credit for what they did in allowing the moral and financial bankrupting of America. I won't bother you with another link but Michael Whitney did a great piece detailing how Greenspan set it up. Those so called men are heralded as heroes by some. You have to realize they are all benefactors of this disaster.
I always said Bush or those behind him learned their lessons well and anything they touched would be much worse than a like event in History. During the Depression when Roosevelt was trying to rebuild America we knew it happened on the Republican's watch and who to blame. They also knew and wanted to help fix it not make it worse as Republicans are doing today.
Anyway think back and you will see that everything was done on purpose and especially the timing was no coincidence. Bush and Greenspan kept the collapse off until he was out of office. People say get over it! Move on! However we will never get over it or be able to forget Bush as much as we want as his damage will affect our and the worlds lives forever. No I am not giving that bunch too much credit.
They shaped our future and the future of the whole world like it or not!et over it, not hardly! The debt clock had to be started during Reagan's time because of his success but could only register 9 trillion. Because of Bush's so called success it had to be altered to register 10 trillion, now we are $16 trillion. Now the debt is moving so fast it is going virile. 3.8 trillion is our new record budget for one year. How far off can bankruptcy be especially knowing how bad it really is? Bankruptcy Questions & Answers
James m Joiner
Gardner, Ma
http://anaverageamericanpatriot.blogspot.com
2 comments:
Fear not Jim the boys on Wall Street will not let this happen. To default would be like them shooting themselves in the foot.
China by the way does not hold the bulk of our debt. It's held by the U.S. Treasury.
As to imposing austerity look no farther than Greece to see what would happen if we do the same. They will default and I suspect eventually pull out of the euro zone. Japan has taken the gamble that the world economy will be sorted out and has provided a stimulus as has China.
The conditions are much like they were in the late 1920s and you saw what it took to get us out of that mess. FDR didn't cut programs he expanded them to get the country working again. There was also debt forgiveness in that process.
The only reason for all the fear at present is that it moves the markets which Wall Street loves. And since they seem to have a strangle hold on our government at the moment they are in the drivers seat. They are not about to crash this car for to do so would mean their own demise.
Politically this is about saving face and who gets the blame. Granted both parties have played a hand in all this with each side watering down the laws but they aren't about to let things crash no matter how crazy they all look.
I don't see anything good coming. When all is said and done we are getting so in the hole I do not see a way out unless they screwing us big time. I just explained on my other post how bad it is getting here plus throw in food gas and everything else we need to survive and they are breaking us!
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